Oil hovers below $100 as Trump signals progress in Iran talks
Oil prices sat below the $100-a-barrel level on Wednesday, as investors assessed signs of diplomatic progress between the U.S. and Iran and improving prospects for Middle Eastern crude flows. By 04:28 ET (08:28 GMT), Brent crude futures, the global oil benchmark, had inched up by 0.2% to $99.48 a barrel, while U.S. West Texas Intermediate ...
US President Donald Trump is set to host Chinese President Xi Jinping in Washington for a three-day summit on Wednesday, despite ongoing trade and technological tensions. The high-profile visit comes three years after Xi's last trip to the US. The event will include a state dinner, a military ceremony at the Air Force One base, and a visit to the National Archives.
Analysts expect the summit to focus on maintaining stability between the world's largest economies, with both sides aware that a breakthrough seems unlikely. Topics include Taiwan, narcotics, and rare-earth minerals, with Xi likely to emphasize Beijing's claim to Taiwan during the talks. While Trump may maintain US export controls, they are expected to discuss potential reductions in tariffs for specific sectors and cooperation on drug trafficking and military-to-military dialogue.
Discussions may also center on AI, where both nations are in fierce competition. The visit arrives during a challenging period for Trump, as he faces falling approval ratings due to his actions in Iran. Xi, meanwhile, arrives in a seemingly stronger position, with China's trade engine performing well. The leaders are likely to issue separate statements highlighting their respective positions rather than engage in a joint press conference.
The summit follows a week of diplomacy that included Trump's attendance at the United Nations General Assembly. The meeting is expected to be one of several in 2023, with potential future summits on the sidelines of the Asia-Pacific Economic Cooperation summit in China and the Group of 20 meetings in the US.
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
